The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1887-12-23
ANENT THE CONTINENTAL LIFE
INSURANCE CO.

The recent publication in the papers
througout the country of the difficulties
into which the Continental Life Insur-
ance Company of Hartford has been
plunged and the many statements
which have been made connecting the
Standard Cement Co., of Hartford, pro-
prietOrs of the Mankato Cement Works,
with this Insurance CO., have led us to
investigate the matter very thoroughly
and we are only too pleased to say that
the result of our investigations have
demonstrated the fact that the Standard
Cement Co. is in no way connected
with the Continental Life Insurance Co.
and that there are no entangling ALI
ances between the two companies.
The Continental Life Insurance Co.
is simply large stock holder in the
Standard Cement Co.
Mr.. James S. Parsons, the president
of the Continental Life Insurance Co.
was at one time president of the Stand
ard Cement Co., but for nearly two
years past has not been an officer of the
company or even member of the board
of directors.
The Standard Cement Co. does not
owe to the Continental Insurance Co.
one dollar of money, neither does the
Continental Life Insurance Co. owe a
single dollar to the Standard Cement Co.
The fact that the Continental Insurance
Co. schedule in their assets Standard
Cement Co. stock at $l77, 400, which was
the actual cost to them, and that the in
surance commissioner who has been
mo - hn r. Al
OF the insurance company appraises the
value of the stock at 500, $50 clearly
proves that it was very wise and prof
liable investment for the Continental
Life Insurance Co.
Such an increase in the value of the
stock could only be gained by the pros
perity of the Standard Cement Co, as
has been evidenced by the continual
expenditure of large sums of money by
that company, not only at the Mankato
works but at their Akron works,
and it is doing the Standard Cement Co.
great injustice, and particularly our
Mankato Cement Works, to assume for
one moment that there is any connec-
ton between the two companies, partic-
ularly at this time, when the Continen-
tai Life Insurance Co. is involved in a
serious embarrassment.
We have 1T from an authentic source,
that the investigation of the affairs of the
Continental Life Insurance Co., was
brought about through the jealousy of
other insurance companies at Hartford,
who had not been able to keep pace
with the advanced ideas of the CONT
mental. Relative to- life insurance and
the many innovations in the business
brought about by Mr.. Parsons, which
were making heavy inroads into the
business of many Of the older compa-
MES, who were simply Jealous of the sue
cess being attained by the Continental,
and while it may be true that there has
been shrinkage in value of some of the
assets of the Continental company, there
Is no doubt that a great pressure has
been brought to bear in the direction of
scaling down the assets of the company
to such an extent as to bring their assets
down below the a per cent. reserve re-
CURED by the laws of the State of Con-
necticut, but the actual value of many of
the assets we know far exceeds the
amount at which they were appraised,
and II full credit were given to these as
sets the Continental could show that
they are i'll as good condition as many of
the companies who are now exerting
IhOll ubhAOob OhuCdNOI6 " uSSlTOS lIleul.
We get our information from trust
worthy source, and we are happy to say
that all fears relative to the Standard
Cement Co. may be dispelled, and that
our own Mankato Cement Works have
passed through very prosperous year,
and that the outlook for the future of
these works is very gratifying, and it
should be the duty of every citizen to
show his loyalty to the Mankato Cement
WORKS by dismissing all fears regarding
Its safety, for certain it is that no indus
try was ever established that has con-
tributed more to the growth and welfare
of this community than have these same
Mankato Cement Works, and instead of
making life burden for its representa-
tives here We should extend the right
hand of fellowship, and our heartiest
wishes for future prosperity.